Altimeter Capital Management LP Purchases New Shares in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Altimeter Capital Management LP has acquired a new stake in ARM Holdings PLC, purchasing 175,600 shares valued at approximately $18.75 million, making it the firm's 18th largest holding.
• Several other institutional investors have also increased their stakes in ARM, with notable boosts from Vident Advisory LLC (up 87.5%) and Gordian Capital Singapore Pte Ltd (up 1,257.7%).
• Wall Street analysts have mixed ratings for ARM, with a consensus rating of "Moderate Buy" and a target price of $169.67, despite recent price adjustments from various firms.

Altimeter Capital Management LP acquired a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 175,600 shares of the company's stock, valued at approximately $18,752,000. ARM comprises about 0.4% of Altimeter Capital Management LP's investment portfolio, making the stock its 18th largest holding.

Other large investors have also made changes to their positions in the company. TFC Financial Management Inc. lifted its position in shares of ARM by 163.4% during the 1st quarter. TFC Financial Management Inc. now owns 266 shares of the company's stock worth $28,000 after purchasing an additional 165 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of ARM during the 1st quarter worth about $28,000. N.E.W. Advisory Services LLC acquired a new position in shares of ARM during the 1st quarter worth about $34,000. Colonial Trust Co SC acquired a new position in shares of ARM during the 4th quarter worth about $40,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ARM during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Price Performance

Shares of ARM traded up $2.69 during mid-day trading on Friday, reaching $138.17. The company had a trading volume of 2,815,559 shares, compared to its average volume of 3,609,340. ARM Holdings PLC Sponsored ADR has a twelve month low of $80.00 and a twelve month high of $182.88. The company's 50-day moving average is $145.89 and its 200-day moving average is $130.99. The company has a market capitalization of $145.98 billion, a P/E ratio of 209.35, a P/E/G ratio of 9.05 and a beta of 4.17.

ARM (NASDAQ:ARM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. ARM had a return on equity of 15.56% and a net margin of 16.96%.The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the firm posted $0.40 EPS. ARM's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that ARM Holdings PLC Sponsored ADR will post 0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ARM has been the subject of several research analyst reports. BNP Paribas Exane raised ARM from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a research report on Wednesday, July 16th. The Goldman Sachs Group initiated coverage on ARM in a report on Thursday, July 10th. They issued a "neutral" rating and a $160.00 price target for the company. KeyCorp reaffirmed an "overweight" rating and issued a $190.00 price target (up previously from $175.00) on shares of ARM in a report on Thursday, July 31st. BNP Paribas raised ARM from a "neutral" rating to an "outperform" rating and upped their price target for the company from $110.00 to $210.00 in a report on Wednesday, July 16th. Finally, Benchmark reaffirmed a "hold" rating on shares of ARM in a report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ARM has an average rating of "Moderate Buy" and an average price target of $169.67.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.